Western Asset High Income Opportunity Fund (NYSE:HIO) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Western Asset High Income Opportunity Fund Inc. (NYSE:HIO) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $3.56 and traded as low as $3.24. Western Asset High Income Opportunity Fund shares last traded at $3.2450, with a volume of 575,856 shares changing hands.

Western Asset High Income Opportunity Fund Stock Up 0.8%

The stock has a 50 day moving average price of $3.44 and a 200 day moving average price of $3.56.

Western Asset High Income Opportunity Fund (NYSE:HIO) last released its earnings results on Thursday, August 20th. The closed-end fund reported $0.08 earnings per share (EPS) for the quarter.

Western Asset High Income Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a $0.0355 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.43 annualized dividend and a dividend yield of 13.0%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Sit Investment Associates Inc. raised its position in shares of Western Asset High Income Opportunity Fund by 33.2% during the fourth quarter. Sit Investment Associates Inc. now owns 2,235,264 shares of the closed-end fund’s stock worth $8,293,000 after purchasing an additional 556,840 shares during the period. Rareview Capital LLC boosted its position in shares of Western Asset High Income Opportunity Fund by 30.7% in the 2nd quarter. Rareview Capital LLC now owns 903,653 shares of the closed-end fund’s stock valued at $3,597,000 after purchasing an additional 212,012 shares during the period. Absolute Investment Advisers LLC increased its stake in Western Asset High Income Opportunity Fund by 43.4% in the 1st quarter. Absolute Investment Advisers LLC now owns 469,158 shares of the closed-end fund’s stock worth $1,703,000 after purchasing an additional 141,927 shares in the last quarter. RFG Advisory LLC raised its holdings in Western Asset High Income Opportunity Fund by 58.8% during the 1st quarter. RFG Advisory LLC now owns 287,063 shares of the closed-end fund’s stock worth $1,042,000 after buying an additional 106,280 shares during the period. Finally, IMC Chicago LLC acquired a new stake in Western Asset High Income Opportunity Fund during the 2nd quarter worth about $90,000.

About Western Asset High Income Opportunity Fund

Western Asset High Income Opportunity Fund Inc is a closed-end investment company listed on the New York Stock Exchange under the ticker HIO. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing primarily in fixed-income securities.

The fund generally focuses on below-investment-grade corporate bonds and other high-yield debt securities. Its portfolio may also include loans, emerging-market debt and other income-producing instruments, allowing it to invest across multiple sectors and geographic regions while emphasizing credit markets with higher income potential.

HIO is managed by Western Asset Management Company, a global fixed-income investment manager and a subsidiary of Franklin Resources, Inc Western Asset has roots dating to 1971 and manages portfolios for institutional and individual investors worldwide.